Filing Bankruptcy Twice
Date: Sat, 05/02/2009 - 16:02
reply
in this economic climate i doubt it,but how many years ago exactly did you file chapter 7?that might be the only thing that will deter you.
The courts will not see you as a loser - the courts are not in t
The courts will not see you as a loser - the courts are not in the business of having an opinion on the why's and wherefore's of someone filing bankruptcy, provided they are not a habitual filer. (Habitual meaning you file every time you legally can - and believe me, there are people that do it.)
I filed 5 years ago Ch 7 now chapter 13...that is ok right?
I filed 5 years ago Ch 7 now chapter 13...that is ok right?
From the Bankruptcy Law of 2005: Quote:The debtor cannot file
From the Bankruptcy Law of 2005:
Quote:
The debtor cannot file a Chapter 13 unless: (1) the debtor received a discharge under Chapter 7, 11 or 12 more than four years ago; or (2) the debtor received a discharge under Chapter 13 more than two years ago. |
It's not when you filed, it's when the case was discharged - so if your Chapter 7 was discharged 5 years ago, you should be ok, according to the law above. But please confirm with a bankruptcy attorney.
i filed for bankruptcy 8 years ago. Is the wait time still 7 yea
i filed for bankruptcy 8 years ago. Is the wait time still 7 years if you file twice?
You can file a 13 immediately after a 7, but what you can't get
You can file a 13 immediately after a 7, but what you can't get is another discharge. Your Chapter 13 plan would need to provide 100% repayment. This is a common strategy when you have secured debts (like a mortgage) after your Ch 7 discharge and you want to save your asset (like your home). It is so common it is actually referred to as a "Chapter 20" (7+13). DISCLAIMER: I am not an attorney and I am not providing legal advice. This information is readily available on the Internet and in several books.
Reposting so as not to appear anonymous.... You can file a 13 i
Reposting so as not to appear anonymous....
You can file a 13 immediately after a 7, but what you can't get is another discharge. Your Chapter 13 plan would need to provide 100% repayment. This is a common strategy when you have secured debts (like a mortgage) after your Ch 7 discharge and you want to save your asset (like your home). It is so common it is actually referred to as a "Chapter 20" (7+13). DISCLAIMER: I am not an attorney and I am not providing legal advice. This information is readily available on the Internet and in several books
Loser?
No-you are not a loser! I filed for BK for my first time this year. I too did not spend beyond my means-tons of unfortunate events happened these past several years-car accidents, health issues, house issues-you name it. Even if I had enough savings-I could not have even covered all of it. Things happen.
Could it happen again? You betcha! I will do everything in my power not to go there, but I always know it can happen. For instance, thanks to the economy, we are without health insurance and can't seem to get a policy on our own, but don't qualify for anything through the state. If something major were to happen to me or my husband-we are screwed.
Thousands of Americans file for BK because of other reasons-not because they had an urge to buy plasma TV's and fancy cars. Things happen in life that are beyond our control.
Just my 2cents...
And in addition to everything else, bankruptcy is a right as a U
And in addition to everything else, bankruptcy is a right as a US citizen. The founding fathers places provision for this in the Constitution over 200 years ago. And it does not really matter what the reason. Even if you were irresponsible, then it is still a right. Hopefully, if it is because of something you did wrong, that you would learn from it, and not make the same mistakes again.
